Reinforcing its position as a leading investment banking and asset management company, Kuwait Financial Centre 'Markaz' was honoured with two prestigious awards at the EMEA Finance Middle East Banking Awards 2023, which were recently held in Dubai, UAE. During the event, Markaz was recognized with the 'Best Asset Manager’ Award and the 'Best Local Investment Bank’ Award. With this, the organization has added more than 80 laurels under its belt in the past decade, further solidifying its reputation for excellence.
The EMEA Finance Middle East Banking Awards are a prestigious recognition award that celebrates outstanding achievement and contributions within the financial services sector across the Middle East region. The prestigious financial magazine’s awards are based on specific criteria in its selection process for the winning entities. It includes market share, growth rate, profitability, innovation, in addition to the quality of the business strategy.
These coveted honours reflect Markaz’s continued success and solid performance in the asset management and investment banking business, despite the global economic challenges witnessed in 2023. The recognitions are also a testament to the organization's best-in-class financial services, innovative offerings, and pursuit of excellence in providing remarkable services to its valued clients. Markaz’s 11th win from EMEA Finance attests to the company’s 50-year legacy of expertise and excellence in the investment sector.
Expressing her pride and enthusiasm on Markaz being recognized with the 'Best Asset Manager' award, Mrs. Amani I. Al-Omani said: "This recognition honours our top-notch asset management services and reinforces our position as an industry leader in the MENA region. At Markaz, we continuously strive to provide our clients with advanced investment tools and solutions to enhance their risk-adjusted returns and based on the investment objectives of each. In 2023, we achieved significant progress in this endeavour by launching the newest GCC Momentum Fund, the first of its kind in the GCC markets, with a solid strategy focused on investing in shares with high momentum scores aligned with the S&P Momentum GCC Composite Index. Furthermore, these accolades serve as an encouragement for all of us at Markaz to persist in delivering innovative solutions that meet and exceed the expectations of our clients."
Commenting on the ‘Best Local Investment Bank’ Award, Ms. Rasha Othman, Executive Vice President, Investment Banking (Capital Markets and Fixed Income), and representing both the Investment Banking Services team and Advisory and M&A team at the ceremony, said: "We are profoundly honoured to have been recognized with the 'Best Local Investment Bank' award at the Middle East Banking Awards. This accolade is a testament to our exceptional investment banking capabilities and our commitment to developing innovative investment solutions that cater to our clients’ strategic objectives. Over the past year, Markaz has achieved significant successes in its Capital Market activity, which included facilitating bond issuances for eminent institutions, where Markaz played a pivotal role as a joint lead manager with the successful issuance of KD 50 million Subordinated Tier 2 Bonds of KD 50 million for Al Ahli Bank of Kuwait. Furthermore, our role as structuring advisor and lead manager was instrumental in issuing the first KD-denominated convertible bond with a nominal value of KD 9.65 million for Sultan Center Food Products Company K.S.C.P., as well as its role as lead manager and subscription agent in the completion of the issuance of the first tranche of the subordinated Tier 2 capital bonds program with a nominal value of KD 50 million for the Commercial Bank of Kuwait.
Markaz’s Advisory and M&A team also implemented financial restructurings for high-profile companies, advised on mergers within the professional services and oil and gas sectors, conducted transaction feasibility studies, and prepared strategic expansion plans and valuations in the healthcare sector. These operations reflect the efficiency of Markaz’s teams, which enjoy the trust and appreciation of both clients and prestigious institutions.”
Markaz wrapped up 2023 with an impressive tally of 10 esteemed industry awards for its exceptional performance as a market leader in investment banking, commitment to corporate social responsibility programs, digital innovations, and promoting diversity and inclusion. The notable winnings include: 'The Best Private Bank in Kuwait' by Global Finance; 'The Best Private Bank or Wealth Manager Servicing the State of Kuwait' by Wealth Briefing; and 'Best Domestic Private Bank in Kuwait' by Euromoney, and its rankings as a market leader in Investment Banking services, a highly regarded institution in the digital solutions and corporate social responsibility categories, and one of the most notable players in the diversity and inclusion category on Euromoney’s list of market leaders. The company also received 'MENA Investment Bank of the Year' and 'Excellence in the Real Estate Investment Award' by MEED.
Source MARKAZ
